CALEDONIA, Miss., April 13, 2010 (GLOBE NEWSWIRE) -- Shala Hinds, a single-mother who has always put her two children before herself, has lived in the same mobile home for more than 20 years. Time has slowly destroyed what was once her home, leaving it in a condition beyond repair.
"My daughter said to me one day, 'Mom, you really need a new house,'" said Ms. Hinds. "I responded by saying that she was right, but now wasn't the time. I had other priorities on my plate to worry about."
Her other priorities included putting her daughter and son through college, and completing her elementary education degree at Mississippi State University. Ms. Hinds also raises a grandchild, and works two jobs to make ends meet.
Ms. Hinds's 1987 mobile home had been given to her by a family member. She raised both of her children in it, but after 20 years, it had holes in the floors and walls, mold, leaking sewage and plumbing, and no central heat or air conditioning.
"The last straw was when I found a snake in my bedroom drawer," said Ms. Hinds. "I said that was it, and began looking at my options."
Ms. Hinds contacted the Columbus Lowndes Habitat for Humanity for assistance. She knows several people that live in Habitat homes, including a co-worker, friends, and a few family members.
Kathy Arinder, executive director of Columbus Lowndes Habitat for Humanity, visited Ms. Hinds's mobile home, and helped her get into a Habitat home. Ms. Arinder was able to secure a $25,000 Affordable Housing Program (AHP) grant from BancorpSouth Bank and the Federal Home Loan Bank of Dallas. The grant assisted two qualified, low-income families with down payment and closing costs on a newly constructed Habitat home. Ms. Hinds was one of the two recipients and received $12,500. The upfront assistance allowed her to significantly lower her monthly mortgage payments.
"Shala Hinds is a very driven woman," said Ms. Arinder. "But, her living conditions were not healthy, especially for her grandchild. It was a top priority to get her into a safe and clean home, and the AHP grant helped us do that."
Ms. Arinder worked with Hayes Rector, Branch Manager and Loan Officer at BancorpSouth in Columbus, Mississippi.
"Ms. Hinds has an amazing story," said Mr. Rector. "Her mobile home was literally falling down around her. Since she approached Habitat for assistance, she has completed all of her requirements and paid off all of her student loans for both children and herself. She will move into her new home debt free. Ms. Hinds put her own needs aside in order to provide for her family. The life changing effects that AHP grants have on so many people is simply rewarding, and makes me proud to be a part of something so great."
Even with her busy schedule, Ms. Hinds met all of Habitat for Humanity's requirements for obtaining a home. She has completed the homebuyer education courses and the mandatory "sweat" equity hours by working on Habitat homes for other families.
"The entire process was very exciting," said Ms. Hinds. "There was never a dull moment, and the whole organization welcomed me like family. When I showed up to do my hours or complete my courses, I was welcomed with smiles and hugs from everyone. All of the people I worked with, including the other Habitat recipients, were so inspirational. It just makes me silly-faced and warm inside."
The next two months will be very exciting for the Hinds family. Ms. Hinds's three-bedroom, two-bathroom home is expected to be completed by mid-April. Ms. Hinds's home is also the senior class project for students at Heritage Academy in Columbus, Mississippi. The students partnered with Columbus Lowndes Habitat for Humanity to raise funds and volunteer during the building process. The students will present Ms. Hinds with her house keys during a dedication ceremony in late April, which is just a few weeks before Ms. Hinds, her daughter, and her son graduate from college.
Ms. Hinds said she enjoyed her experience through Habitat so much that she wants to share her story and continue to volunteer to help others achieve their dreams of homeownership.
"You just don't understand until you've been there," said Ms. Hinds. "I was in so much need, and this has been such a rewarding experience."
Each year, FHLB Dallas returns 10 percent of its profits in the form of AHP grants issued through its member financial institutions. In 2009, FHLB Dallas awarded $10.5 million in AHP grants to 48 affordable housing projects in its five-state District, including more than $3.5 million in Mississippi, which will result in the creation or renovation of 425 affordable housing units in the state. In 2010, FHLB Dallas will offer up to $18.6 million in AHP grants.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $65.1 billion as of December 31, 2009, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas web site at fhlb.com.
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